BRICS: Who’s who and what’s what

A comprehensive update on the world's most dynamic intergovernmental alliance.

A Movement, Not a Bloc

BRICS today is no longer a geopolitical acronym. It is a collective vision-an economic counterweight, a moral statement, and a strategic alliance of nations that dare to imagine development without domination.

As of 2025, BRICS is ten full members strong, but 44 more countries are lined up to join. Why? Because BRICS does what others only promise-

BRICS builds without conquest, it lends without conditionality, and it respects sovereignty without exception.

This report is not about how BRICS began-that’s for the next report. Here, we map what BRICS is now: its structure, expansion, guiding principles, institutions, and numbers-and why it matters more than ever.

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The Fortaleza Breakthrough:

BRICS Finds Its Engine

At the VI BRICS Summit in Fortaleza, Brazil (2014), a new chapter opened. Two transformative institutions were created:

• The New Development Bank (NDB)

• The Contingent Reserve Arrangement (CRA)

The motivation? A joint viability study by member states found that:

1. Existing institutions like the IMF and World Bank weren’t meeting the infrastructure needs of the Global South.

2. International credit conditions were becoming narrower and more risk-averse post-2008.

The NDB was launched to plug that gap-with founding principles of equal voting rights, a higher risk appetite, and a development-first mandate. It’s run by developing countries, for developing countries.

As of 2025:

• Authorized Capital: $100 billion

• Paid-in Capital: $52.7 billion

• Approved Projects: 120+

• Disbursed Funds: $39 billion

• Membership: Expanded to include Egypt, UAE, and Bangladesh

In sharp contrast to the IMF’s GDP-weighted voting model, the NDB gives all founding members equal say, regardless of economic size. This single principle-equality in voice-is why developing nations are flocking to BRICS.

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Current BRICS Members (as of 2025)

Who Wants In? The 44-Nation Wave

BRICS not random expansion. It’s expanding because its values resonate. As of 2025:

• 23 nations have formally applied

• 21 have expressed interest

Applicants include:

Algeria, Argentina, Bahrain, Bangladesh, Belarus, Bolivia, Cuba, Egypt, Ethiopia, Honduras, Indonesia, Iran, Kazakhstan, Nigeria, Pakistan, Saudi Arabia, Senegal, Sudan, Syria, Thailand, Tunisia, UAE, Venezuela

Interested partners include:

Afghanistan, Angola, Armenia, Azerbaijan, Cambodia, Congo, Gabon, Guinea-Bissau, Malaysia, Mexico, Nicaragua, Nigeria, Philippines, Sri Lanka, Suriname, Uganda, Uzbekistan, Vietnam, Yemen, Zimbabwe

Regional Mini-BRICS: Continental Cooperation Models

To manage its growing scale and diverse membership, BRICS has quietly evolved into three regional formations:

1. BRICS-Africa
   Anchored by South Africa, Egypt, and Ethiopia. Focus: infrastructure, green energy, agriculture, and water security.

2. BRICS-Middle East
   With Iran, UAE, and Saudi Arabia (applicant). Focus: financial de-dollarization, energy innovation, sovereign development funds.

3. BRICS-Asia
   With India, China, Indonesia, and potential members like Malaysia and Vietnam. Focus: AI governance, digital currency frameworks, and multilateral tech platforms.

These hubs serve as BRICS local engines, maintaining unity while honoring regional needs.

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BRICS in Numbers: 2025

BRICS is now one of the largest economic coalitions in history. Here's where it stands-and where it’s headed if all 44 applicants join.

Also worth noting:

• 48.5% of the world’s population lives in BRICS countries

• 24% of all global trade is BRICS-based

• Brazil’s trade with BRICS alone reached $210 billion in 2024

• BRICS now spans 36% of Earth’s landmass, across every inhabited continent

  

Ethiopia: A Test Case for the BRICS Model

Ethiopia’s 2024 accession is more than symbolic-it’s structural.

• Nearly half its foreign debt is owed to China

• It maintains positive bilateral relations with Russia, South Africa, and India

• It’s emerging from conflict with hopes of economic renewal

Access to the NDB gives Ethiopia something no IMF loan ever offered: agency. And it sends a global message-if BRICS believes in Ethiopia’s future, others should too.

The Institutional Triad

1. New Development Bank (NDB)

• Mandate: Fund sustainable infrastructure

• Recent Projects: Green energy in Brazil, logistics corridors in India, smart cities in South Africa

• Notable Feature: Equal voting power for all founders, no U.S. veto

  

On April 29, 2025, H.E. Xi Jinping, President of the People’s Republic of China, visited the New Development Bank (NDB) Headquarters in Shanghai.

2. Contingent Reserve Arrangement (CRA)

• Mandate: Provide emergency liquidity support

• Structure: $100 billion pool; currency swap-based support mechanism

• Use Case: Acts like an IMF alternative without the austerity strings

  

  BRICS Pay – A New Financial Artery for the Global South

  BRICS Pay is an intergovernmental digital payment platform designed to enable cross-border transactions using local currencies—bypassing reliance on the U.S. dollar and Western-controlled networks.

  It is a cornerstone in BRICS broader effort to build sovereign financial infrastructure rooted in cooperation, transparency, and mutual benefit.

• Status as of 2025

  • Officially launched in October 2024 at the BRICS Business Forum in Moscow

  • Demo deployment included physical cards loaded with 500 rubles for testing at designated venues

  • Active pilot programs are underway in Russia, South Africa, and India

  • Expected full rollout by the end of 2025 among all BRICS core and new members

  • Core Features

    • Multilateral Design: All BRICS members co-own and co-develop the platform

    • Decentralized Architecture: No single point of control or failure-security by consensus

    • Local-Currency Clearing: Fully avoids USD conversions, reducing forex exposure

    • Real-Time Settlement: Low-friction, fast, and scalable for governments, businesses, and potentially citizens

Strategic Objectives

• Sovereign Finance: Shift control of trade settlements away from Western central banks

• De-Dollarization: Encourage intra-BRICS trade in native currencies

• Resilience: Prevent disruptions from sanctions or Western-led payment bans

• Inclusivity: Promote financial access across the developing world through digital onboarding

As more nations apply to join BRICS, the appeal of a neutral, decolonized payment system grows. BRICS Pay is an infrastructure of trust-built by the Global South, for the Global South.

The Spirit of the Summits

BRICS Summits aren’t about posture. They’re about partnership. The 2024 Kazan Summit was no exception.

Each leader was welcomed as “brother” or “sister.” An ethos of mutual dignity permeated the air—echoing from the opening greetings to the final communique.

Highlights from 2024:

President Xi Jinping:
“Let us work together to build a community with a shared future for mankind.”

Prime Minister Narendra Modi:
“Our diversity, and our consensus-based approach, are the foundation of our cooperation.”

President Vladimir Putin:
“The BRICS’ role in shaping the global economy will only grow.”

President Lula da Silva (Brazil):
“Development should not come with conditions. It should come with trust.”

The sincerity in tone is rare in modern diplomacy-and it’s not performative.

It’s cultural.

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Looking Ahead: The World If BRICS+44 Happens

If all 44 applying and interested nations are admitted, BRICS will represent:

• 5.1 billion people

• Over half of global GDP (PPP)

• More than 70% of global rare earths

• Nearly 80% of the planet’s coal supply

• A complete economic system—from food to fuel to fintech

That is a civilization-scale shift.

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Final Thoughts

In a world where most international clubs are losing trust, BRICS is gaining it. Not through slogans and empty speeches but through shared development, financial sovereignty, and respect for autonomy.

It is, at its core, an idea whose time has come.

So when you hear the word “BRICS,” don’t think acronym.
Think alignment, dignity, and the Global South’s renaissance.

Thankyou for reading, i hope you have a much clearer understanding of the importance of BRICS, Please subscribe and then share this report with everyone and together we can make the world a better place.

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